So close to achieving our goal!

[BennyBoyWrench]

Greetings fair folk of the Dis. We were about to do it, for years we'd umm'd and ahh'd, then my wife decided she wanted items checked off a list, and to join or not to join DVC was next. Doesn't matter that we've never stayed in a deluxe resort, or that I've never seen a DVC room with mine own eyeses, we decided as budget annual WDW visitors it was high time we upgraded our experience.
We were all set to purchase with our excellent DVC Rep, the use-year was sorted, the loan approved.... then came the virus! Our plan was to buy now, bank 2020 and have a decent trip for the 50th anniversary next year, all of a sudden we couldn't buy our points, and still don't know when we'll be able to.
Now we're wondering, do we defer for another 12 months so we know we're buying something we can use? Do we take advantage of lower loan rates now and rent the points we get? Decisions!
In the mean time we took advantage of a surprising flight deal, so will get to enjoy Disneyland Paris this winter, perhaps.

C'est la vie.

 

[SandyinMonterey]

Greetings fair folk of the Dis. We were about to do it, for years we'd umm'd and ahh'd, then my wife decided she wanted items checked off a list, and to join or not to join DVC was next. Doesn't matter that we've never stayed in a deluxe resort, or that I've never seen a DVC room with mine own eyeses, we decided as budget annual WDW visitors it was high time we upgraded our experience.
We were all set to purchase with our excellent DVC Rep, the use-year was sorted, the loan approved.... then came the virus! Our plan was to buy now, bank 2020 and have a decent trip for the 50th anniversary next year, all of a sudden we couldn't buy our points, and still don't know when we'll be able to.
Now we're wondering, do we defer for another 12 months so we know we're buying something we can use? Do we take advantage of lower loan rates now and rent the points we get? Decisions!
In the mean time we took advantage of a surprising flight deal, so will get to enjoy Disneyland Paris this winter, perhaps.

C'est la vie.

I'm a person that approaches just about everything with caution. I research, research, research. Especially in the times we all find ourselves living in right now. There is too much unknown right now. There are so many people with banked points, expiring points, etc. that I feel it's going to be a bit of a nightmare getting DVC reservations in the near or far future. As for renting out your points, I feel will be even worse. There are a lot of threads discussing if David's Rentals is even going to make it through this. Disney is still trying to figure things out as with the rest of the world and I think patience is key. My father always told me, if you have to think about something too much, then it's not the right thing to do (at least right now). Follow your gut.

 

[bwvBound]

Congratulations on your soon-coming 50th Anniversary! That is a huge milestone!

With this, I assume, you've reached a point of wisdom, certainty, clarity and understanding. You know yourselves. You know your budget. You know your risk tolerance. And more.

While the idea of financing the purchase sets of a few alarm bells, it may be that you have a very good reason, at your present stage of life, to approach the purchase as financed. This means using less of your available capital and, should something go sideways in life, you could walk away with less worry for 'credit score' given your stage in life. You'd basically be committing yourselves to a long-term rental with the benefits of 'ownership' control.

FWIW, especially as you've already booked flights for Euro Disney, I'd wait on the purchase. I'd especially not commit to a purchase with a plan to rent out the earliest set of points. Buy only what you intend to use for yourselves. Borrowing from above "follow your gut" ... buy what your love and when all the ducks fall into line. When it is easy and clear and you both agree on every point: buy.

Again, congratulations on the significant event ... and maintaining your health and spirt of adventure to jet off to Paris! We hope to be the same ... but we have 25 years to go!

 

[Miffy]

Ahem. I'm pretty sure the OP meant WDW's 50th anniversary, not theirs.

 

[bwvBound]

Ahem. I'm pretty sure the OP meant WDW's 50th anniversary, not theirs.

Ohhhhhh-hhhhhh-hhhhh-hhhhh.
Thanks for that. Yep. I bet you are right!

 

[becauseimnew]

I would say defer for now, save up and borrow less.

 

[taaren]

OP, I'd say if you want to buy and are in a good financial position to do so, spend some time on the "DVC - Purchasing" board. If your plan for a trip is 2021, you've got plenty of time to look into resale and see if that might be a good path for you instead of direct. With the economy the way it is, contracts are likely to be getting lower priced, so it might be a good time to join and you'll likely save a good chunk of change over direct.

 

[mickeymom629]

I guess a lot of people do it but, imo, I would not take a loan out for purchasing a vacation timeshare. With this virus and all the issues surrounding, I would not purchase a timeshare right now. We were lucky that we were able to pay in cash in 1999. We had 4 children and always needed two adjoining rooms if we wanted to stay on property. We went a lot through the years and loved every minute. But ticket prices are getting crazy and planning is getting even crazier. My kids have kids now and we were to go this December. Not sure if that will happen with the virus, but I have a trip booked (not as long as I would have booked because of the 50% rule). Paying annual dues when we can't use it as often as we would like is bad enough but paying on a loan, too, doesn't sound good. A timeshare is not an "investment" except in your family memories.